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Adani said that less than two weeks ago, the company faced allegations from the US regarding compliance practices at Adani Green Energy. He said that this was not the first time they had encountered such challenges and added that every attack makes them stronger, with each obstacle turning into a stepping stone. Jaipur: Industrialist Gautam Adani, in his first response, denied the accusations to the fresh US indictments on Saturday, saying that “every attack makes us stronger.” Adani was speaking during the 51st Gem and Jewellery Awards in Jaipur where he said that business had previously encountered “such challenges.” “As most of you would have read less than 2 weeks back, we faced a set of allegations from the US about compliance practises at Adani Green Energy. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone,” Adani said. ‘Negativity spreads faster than facts’ He added, “Despite a lot of the vested reporting, no one from the Adani side has been charged with any violation of the FCPA or any conspiracy to obstruct justice. In today’s world, negativity spreads faster than facts. As we work through the legal process, I want to reconfirm our absolute commitment to world-class regulatory compliance. ” He said that despite the Adani Group’s successes, the challenges it faced were even more great. He said that these challenges did not break the company. Instead, they defined it, making the group stronger and instilling an unwavering belief that after every setback, it would rise again, more resilient than before. Adani recalls Hindenburg’s dual attack He recalled the attack by the US-based short-seller Hindenburg Research in January 2023. As the group was preparing for its follow-on public offering (FPO), it was targeted by a short-selling attack from abroad. This was not just a typical financial assault but a dual attack aimed at undermining the company’s financial stability while also dragging it into a political controversy, Adani said. Certain media outlets with vested interests amplified the situation. Despite this, the group’s commitment to its principles remained strong, he added. “After successfully raising ₹20,000 crore through India’s largest-ever FPO, we made the unprecedented decision to return the funds. We then further proved our resilience by securing capital from various international sources and actively reducing our debt-to-EBITDA ratio to below 2.5 times, a benchmark that is unmatched in the global infrastructure sector, ” he said. Moreover, the company’s all-time record financial results in the same year reflected its commitment to operational excellence. No Indian or foreign credit rating agency downgraded its ratings. Finally, the Supreme Court of India affirmed the group’s actions, validating its approach. Click for more latest India news . Also get top headlines and latest news from India and around the world at News9. Adan Khan is an emerging journalist with a keen focus on crime and politics. With a talent for making complex issues accessible, he has quickly become known for his ability to clarify intricate topics. Now with a year of experience in the news industry, Adan remains committed to delivering the truth, regardless of its difficulty. His writing seeks to make critical subjects both clear and engaging, offering readers insightful perspectives and guiding them through challenging issues. Dedicated to continuous growth, Adan is here to inform, engage, and make a meaningful impact in journalism. Latest NewsPresident-Elect Donald Trump’s mass deportation plan for undocumented immigrants could have wide-ranging impacts across the country, particularly in Florida. But— at the moment— the state’s new leaders said it’s not their problem. While on the campaign trail, the former president regularly vowed to deliver mass deportation "on day one." At rallies, he often made the case by relating it to migrant crime. "When I'm re-elected, we'll begin removing these criminals, these horrible people from our midst," President-elect Trump said at a recent MAGA rally in Wisconsin. "And we'll end up doing it immediately." RELATED STORY | Scripps News/Ipsos poll: Support for mass deportations drops when Americans consider potential consequences Jan. 20 is now fewer than two months away. If President-elect Trump delivers, the changes to the Florida workforce and economy could be wide-ranging, some have even suggested devastating. Even so, Florida House Speaker Danny Perez (R) and Senate President Ben Albritton (R) sidestepped questions about the potential impacts, earlier this week. “Any sort of immigration policy that comes from the federal government is for the federal government to decide," said the House Speaker. "That's a question that you should be asking the president.” President Albritton said something similar, telling reporters Tuesday: “The federal government is the federal government. State government is state government. That's a federal issue." When pressed further about the possible disruptions from mass deportation, Albritton doubled down. “That's up to the federal government," said the Senate President. "We'll see what they do.” RELATED STORY | Trump's mass deportation plan targets specific groups of immigrants Exactly what they will do remains unclear. Trump has confirmed he’ll use the military. Texas has offered up land along the border for “deportation facilities.” Trump’s advisors have even said he’ll seek to again eliminate DACA, an Obama-era program that protects undocumented who arrived as children. Florida Democrats, like Rep. Marie Woodson (D-Pembroke Pines) a Haitian migrant herself — have warned for months what these mass deportations could mean for Florida. Her concern is a rise in bigotry and racial profiling. “For those who are afraid, I’ll tell you this— be afraid of Trump because he has proven to you who he is," said Woodson. “Okay, mass deportation. In mass deportation, you don't know who's going to be in that ‘mass.’ But we know for sure he doesn't want the people who came from the Biden program. Our brothers and sisters in Ohio. He doesn't want them here. He doesn't want the TPS recipient. He doesn't want Haitians in general.” There’s a major economic concern too. The latest data from the American Immigration Council show Florida has one of the highest populations of undocumented in the country, about 1.1 million. They’re about seven percent of the workforce here — with jobs in ag, hospitality, and construction, contributing about $2 billion to state and local taxes alone. The Brookings Institution recently suggested mass deportation could also lead to a decrease in work for citizens. Researchers found for every half million deported, U.S.-born employment dropped by about 44,000. “Occupations common among unauthorized workers, such as construction laborers and cooks, are essential to keep businesses operating,” the report said, in part. "Deporting workers in these jobs affects U.S.-born workers too." Florida’s governor and lawmakers have multiple state immigration laws already on the books, with strict work verification rules for employers. They have said they’re more focused on making the labor market inhospitable rather than mass deportation. "We're protecting Floridians with the full extent of our powers to do that," DeSantis said in May of last year, before signing an immigration reform bill. "But it's sad. It's sad to see what's happened. It's sad to see these images of the lawlessness." A new era may be on the horizon, however. For now, Florida’s lawmaking leaders seem content with waiting to see what happens next before going further. This story was originally published by Forrest Saunders at Scripps News Tampa .
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PIERRE, S.D. — If all goes according to plan, Gov. Kristi Noem will deliver her final budget address Dec. 3 at the South Dakota State Capitol in Pierre, outlining her economic vision with an eye toward the next stage of her political career. It’s natural for governors to emphasize the positive in these circumstances, but legislators might not have that luxury at a time when lagging state revenue and rising expenses signal significant belt-tightening for the 2025 session, where the budget for Fiscal Year 2026 will take shape. ADVERTISEMENT “I don’t envy the governor’s position in putting out this budget,” said Rep. Will Mortenson, who served as Republican House majority leader the past two years. “If you’re someone coming into this session planning to create some big new government program or spend a bunch of money in a new way, you're going to be in for a rude awakening. We're just not going to have the money.” That’s a marked contrast to the “foot on the gas” mantra pushed by Noem the past few years, when federal stimulus money and inflation-fueled sales tax receipts fattened state coffers. Last year's budget proposal for fiscal year 2025, largely adhered to by the Legislature, called for $7.3 billion in spending, an increase of nearly 30% from two years earlier. After budget increases to the big three – education, health care providers and state employees – ranging from 5% to 7% the past three years, a more modest hike is expected for FY 2026 due to flat overall revenue, prison construction costs and a larger state share of Medicaid payments. “You've got ongoing sales tax collections that are $22.5 million behind legislative projections, you’ve got a men’s prison with a high maximum cost of $825 million and you’ve got conversations about property tax relief coming up,” said Nathan Sanderson, executive director of the South Dakota Retailers Association. “Just on those conversations alone, it’s going to be a very tight budget year, and I don't know what the answers are going to be.” With Noem nominated as Homeland Secretary secretary and preparing for confirmation hearings, the long-range responsibility will fall to Lt. Gov. Larry Rhoden, who could become the first South Dakotan to take the oath of office in the heat of a legislative session. ADVERTISEMENT Here's a look at key factors to watch heading into Noem’s budget address and the 2025 legislative session in Pierre: At a meeting of the Joint Committee on Appropriations on Nov. 14 in Pierre, state economists outlined revenue trends showing that sales tax collections for July through October 2024 were $22.6 million behind legislative projections, more than 4%. That trend could lead to a shortfall of nearly $80 million compared to projections for the fiscal year, which ends June 30, 2025. Overall tax receipts for fiscal year 2025 fell nearly 3% short of expectations through October. “There are areas that seem to be showing more weakness than others,” Derek Johnson, an economist with the Bureau of Finance and Management, told legislators. “Areas like building materials, hardware, garden supply, home furnishings, durable goods and communications. And then our farm equipment is down as well.” Sales taxes are the largest source of state government revenue in South Dakota, one of seven states without a state income tax. The revenue ceiling is lower because legislators voted during the 2023 session to lower the general sales tax rate from 4.5% to 4.2%. That rate sunsets, or expires, in 2027. Talk of eliminating that sunset clause and making the sales tax cut permanent might lose steam in this year’s session based on the latest state revenue projections. When the decision was made to temporarily lower the general sales tax rate in 2023, the other two options were to repeal the state’s grocery tax, which Noem supported, and to provide property tax relief. ADVERTISEMENT Voters strongly rejected a grocery tax repeal in the 2024 election, at least temporarily taking that issue off the front burner. But property tax is a hot topic entering the 2025 session, given that total payments have increased by nearly 60% for homes and nearly 50% for commercial property over the past decade in South Dakota. The problem with cutting property taxes, which help fund local school districts and city and county governments, is that typically you need to backfill that lost revenue with general fund dollars to pay for education and reduce the local effort for school districts. South Dakota voters passed Medicaid expansion in 2022, extending health care coverage to more low-income residents under the Affordable Care Act, with the federal government covering 90 percent of the cost for the first three years. That "bonus" in federal payments ends this year, said Venhuizen, who opposed expanding Medicaid without a plan to pay for the state's share. That price tag is about $35 million for FY 2026 after the state set aside $31 million earlier to ease the cost. "The good news is that the Legislature and the governor planned for this by beginning to build in these extra costs over the past two years," said Venhuizen. "The bad news is that we have to absorb the rest of it this year, which means it will limit available ongoing revenue that much more." Additionally, the Federal Medical Assistance Percentage (FMAP) for regular Medicaid has changed for South Dakota, with the state's funding responsibility increasing from 45% to 47%, which means as much as $25 million for FY 2026. ADVERTISEMENT — This story was first published on southdakotanewswatch.org.None
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